Are monopolistically competitive firms efficient in long-run equilibrium?

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  1. Are monopolistically competitive firms efficient in long-run equilibrium?

  2. Monopolistically competitive firms
    A. are not productively efficient because they do not produce at minimum marginal cost and they are allocatively efficient because they produce where price is equal to equal to marginal revenue.
    B. are not productively efficient because they do not produce at minimum marginal cost and they are allocatively efficient because they produce where marginal cost equals marginal revenue.
    C. are productively efficient because they produce at minimum average total cost and they are allocatively efficient because they produce where price is equal to marginal revenue.
    D. are not productively efficient because they do not produce at minimum average total cost and they are not allocatively efficient because they produce where price is greater than marginal cost.
    E. are not productively efficient because they do not produce at minimum average total cost and they are not allocatively efficient because they produce where price is less than marginal cost.